GameStop Shares Drop 19% This Week Over Xbox One Used Game Rumors

Stock price has decreased in the past few days for the retailer

The ongoing saga concerning the method in which the Xbox One will deal with used games has taken a toll not just on the nerves of fans but also on the stock price of GameStop, one of the largest retailers in the world.

The Xbox One was revealed earlier this week and Microsoft executives have been unclear about whether or not the console supports used games and just what limitations it will impose, with things like fees being rumored.

While Microsoft is still drawing up the plan, GameStop shareholders have been eager to dump their stock as their faith in the retailer is slipping.

According to Joystiq, share prices dropped 19 percent over this past week, with an 11% drop yesterday, when a rumor mentioned that retailers who sell pre-owned Xbox One games will need to share their profit with Microsoft and the game publishers.

GameStop's used game business accounts for 27.4 percent of its general profit, managing to earn a whopping $2.4 billion (€1.85 billion) last year.

Hot right now  ·  Latest news

1 Comment